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Old 11-21-2011, 10:36 AM
 
1 posts, read 152,233 times
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I need a sample letter explaining gap in employment
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Old 11-22-2011, 04:42 AM
 
Location: MID ATLANTIC
7,598 posts, read 17,614,249 times
Reputation: 8078
Long-term (more than 45 days)

To Whom It May Concern:

During the period of _________ to ____________, I found myself unvoluntarily unemployed. While diffiicult, I was fortunate I had savings, severance and was eligible for unemployment benefits to meet my obligations. When I wasn't seeking employment, I made ends meet doing whatever was necessary to pay my bills and frequently did short-term work for cash. (note, if bills went delinquent: I found myself in the unenviable position of prioritizing what bills had to come first, which were shelter and food). Finally, after xx months, I found a job that fit my experience and am now back on track.

Sincerely,

__________________________________________________ __________________

Short term:

Please be advised I changed jobs in XXXX. Between these jobs, I decided to take some time off to visit with family and ___________________. No credit suffered as a result of this time off.

Sincerely,
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Old 11-22-2011, 07:55 AM
jw2
 
2,028 posts, read 2,485,427 times
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In my very humble and not all that factual based opinion, I think the tone and message will depend not only on how long the gap was but how recent it was. If it was an 18 month gap that ended 6 weeks ago, well, you have some splainin' to do, they are going to be nervous. If it was a 1 month gap 3 years ago, just give them something to satisfy their checkbox.

However, I have never heard of this requirement from a mortgage company (I assume that is the originator of the request) so I don't really know what they are after. I assume they are concerned with your ability to keep a job and obtain a new one when required. So I would flavor the note in that direction.
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Old 11-22-2011, 11:15 AM
 
Location: MID ATLANTIC
7,598 posts, read 17,614,249 times
Reputation: 8078
Quote:
Originally Posted by jw2 View Post
In my very humble and not all that factual based opinion, I think the tone and message will depend not only on how long the gap was but how recent it was. If it was an 18 month gap that ended 6 weeks ago, well, you have some splainin' to do, they are going to be nervous. If it was a 1 month gap 3 years ago, just give them something to satisfy their checkbox.

However, I have never heard of this requirement from a mortgage company (I assume that is the originator of the request) so I don't really know what they are after. I assume they are concerned with your ability to keep a job and obtain a new one when required. So I would flavor the note in that direction.
Sorry to say, they want exactly those details. You must have been very fortunate to not have to write any letters......and the letters I posted are exactly what underwriters are looking for. Letter writing for mortgages disappeared in the boom and came right back in vogue with the bust. And those letters are tame, we (the industry) also require them for bankruptcies, short sales, and foreclosures, credit inquiries, decrease in income........I'm sure there's more, but you get the drift.
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Old 01-10-2012, 07:16 AM
 
1 posts, read 151,848 times
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Quote:
Originally Posted by SmartMoney View Post
... we (the industry) also require them for bankruptcies, short sales, and foreclosures, credit inquiries, decrease in income........I'm sure there's more, but you get the drift.
Can you give an example of a short sale letter?
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Old 07-27-2012, 11:43 AM
 
5 posts, read 154,021 times
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I need a letter of employment for my mortgage companue I have work partime all my life and now am Full time I am only 18 so this is my first full time job
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Old 07-27-2012, 02:07 PM
 
Location: MID ATLANTIC
7,598 posts, read 17,614,249 times
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Quote:
Originally Posted by angelwings5 View Post
I need a letter of employment for my mortgage companue I have work partime all my life and now am Full time I am only 18 so this is my first full time job
It's really that simple:

To Whom It May Concern:

The reason I do not have a full time work history is because I was in school, which was a conflict with school. Now that I have graduated, I plan to work full time.
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Old 11-13-2012, 04:45 AM
 
1 posts, read 138,562 times
Reputation: 18
I need to write a letter to my bank.. I am a single mom, back at the work force however, they want to know what happen on 2010. I was home being a mom. I started working on 2011 and now I was offered a full time position. Trying to get a home for my family and just never had to explain it. Any suggestions
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Old 11-13-2012, 09:10 PM
 
Location: MID ATLANTIC
7,598 posts, read 17,614,249 times
Reputation: 8078
More details needed.

How old are your kids?

When was the last time you were in the work force, prior to being a stay at home mom? What did you do then? When exactly (month) did you return to work? How many hours? Doing what? When did you get the offer go full time?

(I'll try to keep an eye on this thread to see what you come back with)
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Old 11-30-2014, 11:13 PM
 
1 posts, read 87,052 times
Reputation: 15
Smart Money: I need a letter to explain why I foreclosed my house 6 years ago. Going to buy my first house since then and the broker asked for a detailed letter explaining why both myself and my fiancee foreclosed our respective houses. His was about 5 years ago. Funny thing is, we have already been preapproved and then they ask for the explanation letters.
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